Tags: Authorities | Probe | Profiteering | Bin | Laden

Authorities Probe Profiteering by Bin Laden

Friday, 14 September 2001 12:00 AM

Among other things, under a practice know as short selling, a person with prior information can score large profits when a stock sinks in value on certain news - such as corporate problems, or in this case, the more broader news of an attack which has worked to economically hobble the United States.

The attacks halted trading on the U.S. markets before the opening bell, but authorities are looking into trades before the official opening of stock futures.

There are also unconfirmed reports of Japanese authorities looking into similar securities transactions. The U.S. Securities and Exchange Commission declined to "confirm or deny" any such investigations by U.S. financial authorities, but a spokesman added that the agency has received a variety of investor e-mail "suggesting that the SEC check records" on stock transactions around the time of the attacks to establish any possible linkage to profiteering by persons related to the terrorists.

Copyright 2001 by United Press International.

All rights reserved.

© 2019 Newsmax. All rights reserved.

   
1Like our page
2Share
Pre-2008
Among other things, under a practice know as short selling, a person with prior information can score large profits when a stock sinks in value on certain news - such as corporate problems, or in this case, the more broader news of an attack which has worked to economically...
Authorities,Probe,Profiteering,Bin,Laden
160
2001-00-14
Friday, 14 September 2001 12:00 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved